ALEX - Alexander & Baldwin reports Q3 earnings beat; updated fY22 guidance

• Alexander & Baldwin press release ( NYSE: ALEX ): Q3 Core FFO of $0.26 beats by $0.01 .
• Achieves 2.8% increase in Same-Store NOI and 4.0% increase in Core FFO per diluted share over the prior year quarter.
• Nareit-defined Funds From Operations and FFO per-diluted share were $15.3M and $0.21 per share, respectively, compared to $15.5M and $0.21 per share in the same quarter of 2021.
• Revenue of $97.2M (+15.3% Y/Y) beats by $4.3M .
• 2022 Full-Year Guidance : Core FFO per diluted share of $1.07 to $1.11 vs. consensus of $1.04; CRE Same-Store NOI, excluding  prior year reserve reversals of 4% to 6%.

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